Interest
This query is : Resolved
15 January 2010
Whether interest accrued on FD should be accounted for in cash system of accounting. How about TDS deducted on such interest.
15 January 2010
While maintaining cash system we can account the Interest on payment basis and tds also can account in the year which the income is account
15 January 2010
FD interest should be accrued on mercantile basis i. e. accrual basis and TDS should be claimed in the year in which income shown
15 January 2010
ok Thanks to both of you
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